Tips for a Successful Dental Practice Sale

1. 5 Tips for a Successful Dental Practice Sale

2. Successful Dental Practice Sale • Thinking of selling your dental practice in the future? How can you make the sale more valuable? • There's no shortcut nor one-size-fits-all route to a successful sale. • But it pay to learn from professional valuation companies or other dental professionals themselves about important reminders.

3. To help you get started, Here are some Important Tips you might Want to Take Note of:

4. Stay Silent, Don't Make a Big News Out of It • Avoid scaring your employees or patients away. Be silent about your plans and only talk about it with people that matter in the process. • For example, you can discuss your options with your lawyer, accountant, or valuation firm. But you don't have to immediately talk about your plans at your staff meeting. • You'll know when the right time is; don't rush the announcements.

5. Keep Your Dental Office Updated • You need not invest in major updates or renovations all at once. If your equipment and furniture are still new or are in good condition, then you can look at other small improvements to keep the environment fresh. • It could be painting the walls anew, adding in fresh flowers, changing rugs or wall decors. Don't make it seem and feel that the office is in a decline.

6. Keep The Patients Coming • You don't have to refer your patients out just because you're arranging the dental practice sale. Continue running the business as usual. • Think of ways on how you can attract new patients without spending a lot. You can do this by working with digital marketing professionals and revamping your website. • Couple that with participation in community events and making every patient visit as pleasant and comfortable as possible.

7. Take Good Care Of Your Staff • Your staff is your partner in running the dental practice. If you want to find a good buyer easily, make a good impression by ensuring staff longevity. Sure, life happens. Some employees may have to move and transfer to a new office. • But if you are a pleasure to work with and the employees are happy, then chances are they also won't leave that easy. • Your buyer will appreciate working with people that have been around for several years already. This means they won't have to go through everything from scratch. They have your staff to assist them.

8. Plan About Your Future • Life goes after you have sold your practice. Do you plan to retire afterward? Or would you still want to work in the office as an employee? • Or perhaps you have plans or transferring to a new office. Evaluate your income and retirement plans. • This is especially the case if you still have debts or a health condition to look after. You don't want to be left empty-handed.

9. Check These Out! • Practice Solutions provides dental industry consultancy, specializing in the brokerage, valuation and management of dental practices in Canada.  • We are committed to the success of our clients and aims to build long term relationships with them. We work with our clients to help make their dental practice a success. • For more info on dental practice listings Check out: https://practicesolutionscanada.ca